Streetbeat News

Regulatory

AGBA

AILE

LVS

SPCB

Las Vegas Sands Corp. (LVS) shares fell by around 7% despite reporting better-than-expected Q1 results, with earnings of 75 cents per share and sales of $2.96 billion. Other stocks also showed significant movement, with AGBA Group Holding Limited (AGBA) and Tian Ruixiang Holdings Ltd (TIRX) among the top gainers, while iLearningEngines Holdings, Inc. (AILE) and SuperCom Ltd (SPCB) led the losers.

Portfolio Pulse from Avi Kapoor

April 18, 2024 | 3:32 pm

EIS

ISRA

SPY

USO

VGK

The U.S. has introduced new restrictions on Iran's access to certain 'low-level' technology following its attack on Israel and its cooperation with Russia against Ukraine. This move could potentially impact various sectors and related ETFs due to geopolitical tensions and market reactions to the increased sanctions.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 3:29 pm

TSM

Taiwan Semiconductor's CFO, Jen-Chau Huan, announced in a conference call that after a 17% increase in electricity prices last year, Taiwan has seen another 25% increase starting April 1 this year. This rise is expected to reduce the company's Q2 gross margin by 70-80 basis points. Furthermore, the CFO anticipates the higher electricity costs will continue to affect the gross margin by 60-70 basis points in the second half of the year.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 3:23 pm

ACMR

AMD

HHUSF

ICG

INTC

KFVG

China mandates leading telecom operators to eliminate foreign semiconductors by 2027, impacting Intel and AMD, which derive significant revenues from China. Despite potential revenue loss, KraneShares CIO Brendan Ahern views the impact on Intel and AMD as limited, citing the directive's focus on government procurement. Ahern suggests the KraneShares CICC China 5G and Semiconductor Index ETF (KFVG) and stocks like Hua Hong Semiconductor (HHUSF), Intchains Group (ICG), and ACM Research (ACMR) as potential investment opportunities amid China's push for semiconductor self-sufficiency.

Portfolio Pulse from Surbhi Jain

April 18, 2024 | 3:12 pm

GLD

SPY

USO

The U.S. has imposed new sanctions on Iran targeting individuals, organizations, and industries in response to an attack on Israel. These sanctions, announced by the Treasury's OFAC, focus on Iran's UAV capabilities and steel industry, aiming to undermine Iran's destabilizing activities and support for terrorism. The UK and EU are aligning with the U.S. in imposing similar sanctions. Market reactions were muted, with slight declines in oil prices and minor movements in major indices and gold.

Portfolio Pulse from Piero Cingari

April 18, 2024 | 2:57 pm

DJT

A recent SEC filing by Trump Media & Technology Group outlines instructions for shareholders on preventing their DJT stock from being loaned to short sellers. This move could impact the stock's availability for short selling and potentially its market dynamics.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 2:53 pm

AAPL

GOOGL

META

Eduardo Saverin's $30K investment in Facebook, now Meta Platforms Inc. (META), led to significant personal wealth and influenced U.S. legislation. Saverin, a co-founder, became a billionaire when Facebook went public in 2012. His decision to renounce U.S. citizenship for tax reasons prompted Senator Chuck Schumer to propose the ex-PATRIOT Act, targeting individuals renouncing citizenship to avoid taxes. Saverin's initial investment is considered one of the best in modern history, with his net worth now at $26.9 billion.

Portfolio Pulse from Rounak Jain

April 18, 2024 | 2:34 pm

SOUHY

TMQ

VMXXF

The Biden administration's plan to block the Ambler Road project in Alaska, which would have provided access to a mining district for copper and other minerals exploration, has drawn criticism from the mining industry, state officials, and some native groups. The decision is seen as a conflict between environmental protection and the need for domestic mineral sources for renewable energy. Companies like Trilogy Metals Inc. (TMQ) and South32 (SOUHY), part of the Ambler Metals joint venture, and Valhalla Metals Inc (VMXXF) are directly affected, expressing disappointment and considering legal options. The decision also highlights divisions among native tribes and concerns about economic development and environmental impacts.

Portfolio Pulse from Matt Whittaker

April 18, 2024 | 2:07 pm

AAPL

RERE

The rise in smartphone recycling is attributed to a combination of factors including government initiatives, private sector participation, and economic conditions. President Xi Jinping's advocacy for a circular economy, the growth in used smartphone sales, and partnerships like that between ATRenew Inc. and Apple are key highlights. ATRenew's expansion into recycling various consumer goods and its commitment to ESG principles underscore the growing importance of sustainability in business practices.

Portfolio Pulse from The Bamboo Works

April 18, 2024 | 2:06 pm